New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-01-19
PHENIX OF ARIZONA.
A MINE IN THE wEsr-wHAr THE BROKERS THINE

| MINE IN THE wEsT-wHAT THE BROKERS THINK
OF 1T.
Tho activity IN Phnnx mning stock on the Stock Ex-
change and reports Of strike of rich in the mine
have attracted much attention. reporter sent to
investigate the facts
Colonel E 8. Jems0n, who Is president Of the
pany and is a leading member Of the Cotton Exchange,
was first interviewed He stated that the company
organized In $780, capital stock $780, shares 81
each The capital made small to avoid taxes, ETC.
The shares selling at q premium because Of the
strike of rich the extent of which Is not yet fully
known though short time will determine its value.
Colonel Jemson had bought his interest In the
mine as an investment and had opinion to offer about
the movements OF the stock Investors he said should
Investigate for themselves and make their operations
accordingly The mine is being opened rapidly pos
sible and Colonel Jemson felt assured of Its
prominent member of the Stock Exchange was seen
who had been quoted expressing opinion that the
transactions all washes" that the whole thing
was deal y" and that no did not believe there was
any mine at all He stated to the reporter that the
marks attributed TO him were untrue; that he knew
nothing whatever about the mine, and that he had mado
81 900 on a turn In 500 shares OF the stock
Mr. Charles Mime shelmer had filed many orders the
stock He had heard the mine favoraby spoken OF and
was glad the public becoming interested In mining
as he had a mine which he was Just organizing.
Mr. H. Knickerbocker knew nothing about deal in the
stock and had never heard anything for against the
mine. . 80 49, . 49,
had traded less In the stock and had heard that
the mine good one but had not yet published
I'm any newspaper any reports OF its condition value
Mr. Walker OF Joseph Walker Son. had several clients
trading in the stock, and said that he had made inquiries
about the property from Colonel JemsOn and had the
utmost faith In his statements. which conservative
and favorable.
Mr. Seymour OF Seymour Baker & Co.. said that he had
once owned the Phoenix Nine He sold it In 1880 to tho
Phoenix Mining Company. Certain men In Arizona and
San Francisco had Jumped the mine When this came
10 Mr. seymOurs knowledge he concluded that must be
valuable and made bitter fight for its possession. e
won the fight through the ntcrpostOn OF President
Cleveland. Two Justices out OF three the Supreme
Bench OF Arizona passed fayorably on the companys
title and Of them declared the Defendants claim to
the weakest attempt TO steal property that
came his notice" The defendants then come To New
York they have been trying TO prejudice brokers,
investors and newspapers against the their attack
in the Stock Exchange being signally defeated
Mr. Seymour stated that he owned Onccnth of the stock
plus 1000 shares which he had bought In the market at
from 80 80 10 IS 20 share and that he positively
man pulang the stock His adyices from the mine
encouraging good deal Of work will
be necessary 10 fully develop the extent of
the recent strike In the shipman Tunnel II
the indications continue favorable such results would
soon he shown AS would advance the stock. II
favorable turn took place the stock course, wOud de-
cline The fact that the stock Is selling at premium Is
Ineligible 10 every mining man. The value OF the de-
yeOped is male the basis FOR the price OF the stock
plus speculative value based the probable extent OF
the undevcloped ore The OF share OF stock
the same proportion Of the mine at dollar par
value rs II the par was one hundred.